Meaning of noncumulative

non•cum•u•la•tive

Pronunciation: (non-ky'myu-lu-tiv, -lā"tiv), [key]
— adj.
  1. of or pertaining to preferred stock the dividends of which are skipped and not accrued.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.